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on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do
comfortable sending the economy over the fiscal cliff. >> let's bring in our friday gaggle, associate editor and columnist for the hill amy stoddard, danielle gibbs, and columnist for bloomberg view and national review and one of the funnier people on twitter and he did not pay me to say that but i will start with you. so we kind of feel like we're back to square one. should republicans having seen them lose the presidency by a wider margin than many people thought lose seats in the senate which i don't think almost anybody -- unless you're a loyal democrat thought, and lose seats, though, to keep control of the house three and a half weeks ago. should they be more willing to say let's just do a deal here and move on? we kind of lost that argument. we need to pick a better fight. >> i think republicans -- before the election they were dead set against any increase in taxes on upper income people or anybody. and they have moved on that but there's a limit how far they can move and the deal put forward yesterday, john boehner could endorse that tomorrow. he is not getting that through the hous
to drive the economy off the fiscal cliff this january. you might call this thelma and louise economics. right off the cliff. ♪ >> joining me now, senator feldma. >> great to talk to you. >> senator, you've been the leader on how the democrats should be approaching the so-called off the cliff drama and i just want to play something you said on july 16th at the brookings institute. let's listen to that. >> we can't get a good deal, a balanced deal that calls on the wealthy to pay their fair share, when i will absolutely continue this debate into 2013. >> after that, senator mcconnell called that thelma and louise economics. tell us why this cliff is not as disastrous a cliff to go off? >> first of all, no one wants to go off any cliff or hill or slope. there is a responsible way to revolve this. but if we take a bad deal and say that all of the nation's fiscal problems are to be balanced on the back of middle class families and the wealthy don't participate, that's a bad deal we cannot and should not live within this country. >> shortly before your public comments about this this past
goal is to let this country go over the fiscal cliff because he wants the economy to fail because he wants president obama to fail. john boehner, again, i think the worst speaker ever, it's a time for leadership, not for playing political games. american people have spoken. this is a time for leadership. i think if john boehner is unwilling to lead, we've got to put pressure on him to get the hell out of the way. fish or cut bait. get the hell out of the way. he has no backbone. he has no balls. he is a lousy, lousy leader. he is a looser. i think we ought to start putting the pressure on him. let's pick a fight today with john boehner. it's not picking a fight with boehner. it's just doing something to save this country. so, peter, how do people -- i call on you join me in call okay john boehner lead or get out of the way. >> peter: if you want to send him an e-mail you can send it to him. if you are on twitter >> bill: spiritists we are tweeting this as well. if you are on twitter he is tweeting @speakerboehner,
. and provides a 6-point explanation to back it up. is the economy headed for that fiscal cliff? is all of this negotiating dead in the water? let's bring in our panel. monica crowley, radio talk show host and author of jewelry roginsky former political advisor to senator frank lautenberg of new jersey. both fox news contributors. you say the president is not interested in compromise at all? >> no. i have just wrote a whole book about this called, what the bleep just happened. i traced first four years of his presidency. anytime he proposed a economic proposal or physical proposal it contained the exact same elements, which is tax hikes, more spending, not less, no entitlement reform and pushing up the debt limit as far and as fast as possible. this should come as no big surprise here. it is not a big mystery who this guy is. a pure leftist ideologue who will not compromise. jon: julie, he ran a platform saying let's raise the two top tax rates in this country. if he did that would raise $850 billion in revenue. he is asking for a trillion six. he is asking for twice what
leads us away from jobs and growth. the reason the fiscal cliff is dangerous is because it's too much deficit reduction too quickly that would suck demand out of the economy. more jobs and growth will help the deficit. recall the '90s when the clinton administration balanced the budget because of faster job growth than anybody expected bringing in more tax revenues than anyone had forecast. europe offers the same lesson in reverse. thank you. as jim says, every time we talk about this, they keep taking the wrong -- lindsey graham said we're going to be greece. yeah, if we do what you want! the best way to generate jobs and growth is for the government to spend more, not less. and for taxes to stay lor owe become lower on the middle class. so you know, just -- >> roosevelt made that mistake in 1937 when the deficit hawks were saying we gotta slow this thing down. things started reverting to the depression era. levels and he quickly changed course. >> stephanie: rise finishes by saying most of the media have boug
on the fiscal cliff negotiations. >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's a wrong approach. >> stephanie: which one was that? >> that was six. >> stephanie: okay. no, i wanted 8. >> the white house spends three weeks trying to develop a proposal and they send one up here that calls for $1.6 trillion in new taxes. calls for a little -- not even $400 billion in cuts and they want to have this extra spending that's actually greater than the amount they're willing to cut. it was not a serious proposal. >> not serious. >> so right now we're almost nowhere. >> stephanie: here's the reason why we're almost nowhere. [ ♪ "world news tonight" ♪ ] boehner declines to name certain entitlement cuts. asked what specific cuts over the fiscal cliff he pointed reporters to previous budgets declining to name further -- >> stuff. >> stephanie: then he said there is a stalemate because -- >> stalemate. do not put anything on the
questions about jobs and the economy. this is similar, except it will focus on the fiscal cliff. $2,000 is the amount the average american will see taxes increase by if they can't get a deal done. i've been looking at the entries to this hash tag, it's mixed so president obama can expect tough x questions. one person writes in, why don't republicans in congress realize that when we voted for you we voted for your tax plan. that's one person. another writes in, what are you willing to compromise with the gop to get this fiscal cliff stuff done? i think president obama preparing to answer some tough questions from voters. over the weekend house speaker john boehner said these negotiations are nowhere. jay carney disagrees with that assessment. now phone calls at this point between president obama and congressional leaders, but the white house says the talks will be ongoing over the next several days, tamron. >> thank you. the president's q and a on twitter comes days after republicans flat-out rejected his opening bid in negotiations. house speaker john boehner appeared on one sunday
sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." you know who's coming on to me now? you know the kind of guys w
the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make permanent tax cuts for 98% of the american people. >> the president would like to see it done tomorrow and would sign it right away. >> they will put for ending deduction and closing loopholes. >> republicans move a great deal. who was the first person after the election was the speaker who went down and provided the re-knew. >> they blasted the proposal to limit deductions to tell bloomberg television it's unrealistic. >> that means every hospital and university and non-for profit, the agency. across the country would find themselves
about the u.s. economy. i think consumers are where it's at. we just got to get over this fiscal cliff thing. >> jonathan capehart. >> i learned president morsi of egypt is fanatical about "planet of the apes." >> that is really all you need to know. jonathan, thank you so much. rana, steve, michael and everybody, thank you for watching today. if it's "way too early," it's "morning joe." chuck todd is next with "the daily rundown." >>> together again. mitt romney makes his way to the white house. it's not exactly the way he wanted to get there. but can something constructive come out of a private lunch between president obama and the man he defeated just three weeks ago? that's right. that was just three weeks ago. >>> also this morning, a deep dive into america's longest war. look into lessons learned and the sacrifices made by troops at one combat outpost. tell us about what's been accomplished and what's not in more than a decade of fighting. as the country wakes up obsessed with numbers and winners, for the lottery, that, we've got a very important update on the election night numb
do think there is -- you can make a political argument that going over the fiscal cliff, may be in democrats' best political interests. now that takes aside the entire debate over whether it's a good thing for the economy. >> they have no idea. >> nobody knows for sure. >> it's a very good point. >> it's a big risk. >> and if you look at polling that says, well this would -- they would blame -- you never know if it's true. i think that is a theory in some democratic circles but to your point, andrea, i think the uncertainty creeps in why no one is saying let's let this deadline pass. >> before i let you both go, since you're two of the smartest people i know in washington, where do we stand on cabinet selections and, you know, the foreign policy team. >> we saw this joking moment, let me replay it, a news conference to push the u.n. treaty on disabilities which -- >> which is going to -- may fail. >> which is unbelievable since america has been -- >> very surprising. >> way out front since the days of bush '41 and tom harken was the big -- >> bob dole. >> and john mccain toda
days. bush, by the way, is 88 years old, the oldest living former president. >>> the fiscal cliff is looming. we'll weigh through differences among lawmakers and see what sticking points are threatening to stall our economy. and when you switch from another company to us, we even reward you for the time you spent there. genius. yeah, genius. you guys must have your own loyalty program, right? well, we have something. show her, tom. huh? you should see november! oh, yeah? giving you more. now that's progressive. call or click today. ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. ♪for your information ♪we're two of a kind ♪two of a kind ♪it's my o
herera with your cnbc market wrap. worries about the fiscal cliff send stocks lower. the dow fell 60 points, the s&p lost about 7, and the nasdaq is off 8 points. >>> an industry report on manufacturing showed activity contracted last month falling to the lowest level in more than three years. meanwhile, construction spending actually rose 1.4% in october due to increased spending on homes. >>> and ford and gm both ended lower after reporting their latest sales figures. that's it from cnbc, we are first in business worldwide, and now back to chris and "hardball." >>> we're back. hillary clinton is running for president. those are the words of new yorker editor david rem nick this week after he attended the saban forum. he writes of a tribute video in which american and world leaders display their love for the secretary of state and leave the door open for her future plans. i'd say wide open. here it is. >> someone who knows a thing or two about political comebacks. i can tell you i don't think we've heard the last of hillary clinton. ♪ because girl you're amazing just the way you a
to president obama's remarks in pennsylvania on the economy and the so-called fiscal cliff. he spoke to reporters on capitol hill. this is about 10 minutes. >> good afternoon, everyone. the president traveled to pennsylvania to visit a small business today to talk about the fiscal cliff. unfortunately, the president and members of his own party who were proposing that we let many small businesses -- as in hundreds of thousands of them -- go over the fiscal cliff. simply put, that's why we don't have an agreement as yet. they said yesterday, this is not a game. i used to be a small business owner. small business owners are regular men and women from all backgrounds who, in today's economy, are facing challenges on a daily basis. the president's tax increase would be another crippling blow for them while doing little to nothing to solve the bigger problem here, our national deficit and national debt. this debt doesn't exist because we don't tax small businesses enough, it exists because washington continues to spend too much and raising taxes on small businesses instead of taking a bal
on the impact the fiscal cliff would have on americans at home. secretary of state clinton is warning not eaching a budget deal would have an impact on global economy global security. she gave a speech at the brookings institute yesterday and said she's hearing concerns from other countries about the choices we're making when it comes to the economy and it's essential that lawmakers in washington make a meaningful deal. we're back after the break. stay with us. i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help you fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pi
is terrible for the market. well, the easiest way to end the uncertainty about the fiscal cliff and tax rates and their potential impact of the vast majority of americans as they go into this vital holiday shopping season that's pretty central to our economy is for us to pass that and say okay, that part of this is over. the $2,000 on average tax hike that most working families are facing, if we go over the cliff done, taken care of. now, let's work through the balance of increased revenue on the high income earners and spending cuts that we need to get done to achieve a roughly $4 trillion savings. >> bill: and closing loopholes and other issues. >> that's a difficult process. there's lots of detail to it. in my view, there's two bad outcomes here that are quite possible. first is we do nothing. which is -- something we seem to have shown some real capability of. but if we go over the if is cal cliff, which is really more of a slope than a cliff. it is not like y2k where january 1, everybody has a dramatic cuts in services an
Search Results 0 to 17 of about 18 (some duplicates have been removed)